Pallas Capital Advisors LLC Purchases Shares of 1,896 BlackRock $BLK

Pallas Capital Advisors LLC bought a new position in BlackRock (NYSE:BLK) in the second quarter, according to its most recent filing with the SEC. The firm bought 1,896 shares of the asset manager’s stock, valued at approximately $1,823,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Corient Private Wealth LLC grew its stake in BlackRock by 5,190.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after purchasing an additional 5,386,640 shares during the last quarter. Norges Bank purchased a new position in shares of BlackRock in the fourth quarter worth about $2,742,680,000. Auto Owners Insurance Co lifted its holdings in shares of BlackRock by 106,934.0% during the fourth quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock worth $128,441,000 after purchasing an additional 1,283,208 shares during the period. Wellington Management Group LLP boosted its position in BlackRock by 200.5% in the fourth quarter. Wellington Management Group LLP now owns 1,451,122 shares of the asset manager’s stock valued at $1,553,194,000 after buying an additional 968,245 shares during the last quarter. Finally, Blue Owl Capital Holdings LP acquired a new position in BlackRock in the 4th quarter worth approximately $1,012,487,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,148.91 on Tuesday. The stock has a market capitalization of $177.93 billion, a P/E ratio of 27.46, a PEG ratio of 1.32 and a beta of 1.42. The business has a 50 day simple moving average of $1,056.94 and a two-hundred day simple moving average of $1,042.81. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the company posted $12.05 earnings per share. The business’s revenue was up 30.6% on a year-over-year basis. As a group, analysts predict that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be given a dividend of $5.73 per share. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. BlackRock’s payout ratio is presently 54.78%.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Technical momentum remains favorable. BlackRock’s 50-day moving average recently moved above its 200-day average, creating a “golden cross,” which technical analysts view as a bullish signal. After Golden Cross, BlackRock Technical Outlook Is Bright
• Positive Sentiment: Income-investor appeal remains intact. BlackRock is highlighted among dividend-paying financial stocks with favorable analyst ratings and potential price-target upside, which could support demand from yield-focused investors. These 5 Dividend Stocks Show Why Income Investing Still Matters
• Positive Sentiment: Bitcoin ETF demand is a modest supportive factor. Tudor Investment reportedly increased its position in BlackRock’s spot Bitcoin ETF to $22.9 million, reinforcing institutional interest in the product and potentially supporting fee-related asset growth. Tudor Investment Boosts Bitcoin ETF Holdings
• Neutral Sentiment: Valuation comparisons offer no decisive catalyst. A Zacks comparison of BlackRock and Affiliated Managers Group examines which asset manager provides better value, but the article does not establish a clear near-term reason for investors to favor BLK. AMG vs. BLK: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Insurance and financing risks are the main overhang. A roughly $14 billion Texas data-center campus owned by Meta and BlackRock may be significantly underinsured against catastrophic events because insurers are reluctant to provide full coverage. The potential for large uncovered losses could increase lender and investment risk concerns, likely contributing to pressure on BLK. Meta and BlackRock’s Data Centre Exposes Lenders to Insurance Gap

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. raised shares of BlackRock from a “neutral” rating to an “overweight” rating and upped their price target for the company from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. BMO Capital Markets increased their price target on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,258.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,389.00 target price on shares of BlackRock in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $1,311.06.

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.